A. There shall be a credit against any Louisiana income tax for qualified donations made to an eligible maternal wellness center. The credit shall be an amount equal to fifty percent of the donation. Any credit shall be taken as a credit against the income tax for the taxable year in which the donation is made. The total amount of the credits taken by any taxpayer during any taxable year shall not exceed fifty percent of the taxpayer’s tax liability.

            B.(1) The total amount of the tax credits granted by the Department of Revenue pursuant to this Chapter in any calendar year shall not exceed five million dollars.

            (2) The granting of credits under this Chapter shall be on a first-come, first-served basis, with no more than twenty percent of the total tax credits available allocated for contributions to a single maternal wellness center, as further provided by rules promulgated by the Department of Revenue.

            (3) If the total amount of credits applied for in any particular year exceeds the aggregate amount of tax credits allowed for that year, the excess shall be treated as having been applied for on the first day of the subsequent year. If the total amount of credits granted in any fiscal year is less than the amount available to be granted, any residual credit remaining shall be available to be granted in subsequent fiscal years.

            C. No credit shall be granted pursuant to this Chapter for donations made to eligible maternal wellness centers before January 1, 2025, or after December 31, 2030.

            Acts 2023, No. 437, §1.

NOTE: See Acts 2023, No. 437, regarding that the provisions of the Act apply to tax years beginning on or after Jan. 1, 2025.